The overall demand of expanded polystyrene market (EPS) is expected to
grow at a significant rate during the forecast period. Building &
insulation and packaging are the major application of EPS, collectively
accounting for about 90% of the market share.

The global construction sector is expected to expand by an annual
average of 3.2% for the next decade to a nominal value of more than USD
6.0 trillion. Many schemes and projects such as housing for all in India
give acceleration to the construction industry in this region.

Building and Construction sector finds expandable polystyrene employed
in several applications, such as floor insulation, insulation foam for
cavity walls and roofs due to its structural integrity and design
flexibility qualities. Increasing energy prices are forcing consumers to
work towards developing thermal efficiency of constructions to reduce
their energy consumption. The key areas of expected growth in
construction market are transport, energy, social infrastructure,
schools, defense infrastructure etc.

Asia is the world's largest construction market across the globe, with
an annual average growth of 4.1% between 2018 and 2023 and the region
will account for approximately 40% of the world's construction industry
value by 2023. Currently, Asia-Pacific dominates the market for EPS with
almost half of the global revenue share, followed by North America and
Europe. China alone contributes to 40% of the global consumption in this
market.